How
much does it really cost to own a car?
The
Canadian Automobile Association (CAA) estimates it costs around
$8,600 per year to keep an average car on the road. This
is based on figures using a 2007 Chevrolet Cobalt LTZ 4-door
sedan - 2.2 litre four cylinder - driving 12,000km per
year. For more complete details, click
here for the CAA's report in PDF format.
To
determine the full cost of owning your car remember to include:
purchase cost, depreciation, financing charges, insurance, license
& registration, regular maintenance, tires & major repairs,
roadside assistance plans, fuel and parking.
The
following are some sample calculations of trips using Grand River CarShare vehicles, compared to rental cars and taxis.
Note that Grand River CarShare costs include gas, insurance, and taxes. We assume
gas costs to be $.06/km on rentals.
As
you will notice below, car rentals can be less expensive for
longer distance trips. Grand River CarShare members have access to corporate
rates at two rental agencies for such occasions.
Sample
Trip: 3 hour weekend trip to Canadian Tire, 15 km round trip
Grand River CarShare:
3 weekend hours @ $4.00/hr) +
(15km @ $.25/km) = $15.75
Local
Taxi Company:
$2.70 initial meter fare (twice) +
15km @ $1.50/km = $27.90
Sample
Trip:
8 hour weekend visit to Cambridge, 40 km round trip
Grand River CarShare:
8 weekend hours @ $4.00/hr) +
(40km @ $.25/km) = $42.00
Local
Taxi Company:
$2.70 initial meter fare (twice) +
40km @ $1.50/km = $65.40
Sample
Trip:
Weekend Trip to Ottawa
9am Friday-midnight Sunday, 1100km round trip
Grand River CarShare:
72h long weekend rate: $125 +
(1100km @ $.15) = $290.00
Local
Car Rental Company:
weekend rate: $55.50 +
3 days' insurance @ $20/day +
500km over limt @ $.20/km +
15% tax +
gas (1100km @ $.06/km) = $313.83
Sample
Trip: 7 day camping trip (400km)
Grand River CarShare:
72 hour long weekend rate: $125 +
4 weekday flat rates @ $40: $160 +
(400km @ $.15/km) = $345.00
Local
Car Rental Company:
7-day rate: $220 +
7 days' insurance @ $20/day +
15% tax +
gas (400km @ $.06/km) = $438.00
How
our rates can save you time and money!
As
a member of Grand River CarShare it is important to remember that when
the month-end billing is done the billing system always defaults
to the cheapest available rate for each reservation. This means
that planning ahead can save you time and money!
As
an example, suppose you are planning a trip on a weekday, say
Monday, from 9am to 3pm, for a total of 6 hours and estimated
total distance of 250 kms. The billing system would calculate
this reservation based on the weekday hourly rate plus its respective
kilometre rate (i.e. $3.50/hr + $.25/km = $83.50 inclusive);
the 10-hour flat weekday rate plus its respective kilometre
rate (i.e. $30 + $.15/km = $67.50 inclusive); and the 24-hour
flat weekday rate plus its respective kilometre rate (i.e $40
+ $.15/km = $77.50 inclusive).
Now,
since
the 10-hour flat weekday rate ends up the cheapest (i.e. $67.50
vs. $77.50 and $83.50) this is the amount that you would be
charged. So
in this case it may make more sense for you to make your reservation
longer in order to take full advantage of the 10-hour flat weekday
rate! This will give you more time to do the things that you
need to do during your reservation!
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